Abstract:

How can we account for decision maker’s aspiration level in multiple attribute decision-making problems? This is a question that has recently gained much scholarly attention. This study draws on the prospect theory and the Dempster–Shafer theory to propose a method that can resolve this issue. First, the precise and interval numbers and linguistic labels are compared, and then, the decision matrix is transformed into a prospect decision matrix on the basis of decision maker’s aspiration level. Second, the Dempster–Shafer theory is applied to aggregate the prospect values of all alternatives on each attribute using their prospect belief intervals. Third, the orders of alternatives are obtained for all decision methods by comparing prospect belief intervals. Final, the effectiveness and feasibility of the proposed method are demonstrated by using an illustrative example.